FX:EURAUD   Euro / Australian Dollar
113 0 4
Shorting EUR/AUD             on the H4 close.Price has broken past the previous minor support @ 1.4380 with a strong Engulfing candle.Reasons to consider for short are as follows :

ADX TURNING BEARISH :

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COMPLETION OF ALMOST 60% RETRACEMENT OF LAST LEG :

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PRICE REJECTING THE 20 PERIOD MA ON DAY TF :

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LAST BUT SIMPLY THE BEST REASON ( BEARISH TREND ) :

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Goodluck ;)
Comment: ANOTHER PERSPECTIVE :
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POSSIBLE TARGETS FOR DAY TF :
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Trade closed: stop reached
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